Asian shares closed with losses, which were quite pronounced in Tokyo. Dictating this trend were the economic data on China. In August, the PMI index on manufacturing activity, elaborated by the Chinese Government, fell from 50.0 to 49.7. This is the lowest level since August 2012, thus signaling that the Chinese industry is in a contraction phase. Caixin/Markit index, which also measures the manufacturing activity, fell in the same month from 47.8 to 47.3, the lowest since March 2009, confirming the contraction signs from the official PMI index. The difference between the two indexes lies in the PMI index that appeal to a larger sample and focus mainly on state enterprises and larger. The Caixin/Markit index is focused on a smaller sample, which consists mainly of small and medium-sized enterprises. In the past, investors associated negative data of the Chinese economy to possible monetary stimulus measures at this stage, investors fear that the Beijing government further devalue the yuan, which could induce other emerging countries to adopt a similar measure.